Wolverine Worldwide (NYSE: WWW), Golden Gate Capital and Blum Capital Partners have completed their purchase of Collective Brands Inc. for about $2 billion, including debt.
Wolverine will acquire the performance lifestyle group, which includes the Sperry Top-Sider, Saucony, Stride Rite and Keds brands, which will be operated out of Lexington, Mass.
Golden Gate Capital and Blum Capital will jointly own Payless ShoeSource and Collective Licensing International. Payless will continue to operate out of Topeka, Kansas and Collective Licensing will be based in Englewood, Colo.
As of Oct. 9 Collective Brands’ stock will no longer be listed on the New York Stock Exchange. The deal was originally announced May 1.